“RERE” is a brand owned by ATRenew Inc. ATRenew Inc. (NYSE: RERE), provides extensive offerings for electronics products, consumer goods and recyclable products.
Over the years, we established offline facilities and online marketplaces to serve our customers, including both individual consumers and small business owners. Through nationwide physical storefronts and kiosks, we serve consumers' demand of selling used smartphones, laptops, tablets and luxury goods, among others.
On the processing end, we leverage our industry-leading automated operation technologies and facilities to realize effective quality inspection, grading and pricing at scale. This is an extension to our B2B and B2C marketplace solutions, including product listing and digitalized inventory management, bidding, trading, payment and account management services, for merchant users globally. For merchant users, our platform-as-a-service solution charges commission fees to buyers and sellers.
We developed Device Hero, an intelligent inspection terminal in a similar size to a power bank, to empower the recycling and transactions of small merchants. Device Hero inspects devices and determines functionality, battery life, the need for parts replacement and many other key features of pre-owned devices. Device Hero automatically begins device inspection once plugged in. After inspection, it transfers the results back to our big data platform for pricing and quality assessment. The gadget is an innovative combination of software and hardware capabilities and is designed to boost the business growth of merchant users.
We placed over 2,000 proprietary self-serviced recycling kiosks globally. Consumers place their mobile phones into a kiosk and simply follow the user instructions. Within two minutes, the kiosk inspects the phone and displays a recycling price offer. If consumers are satisfied with the price, they can confirm and will get paid instantly. These kiosks are installed in AHS stores and various smartphone retailer stores. We developed programs and incorporated self-designed kiosks to combine software and hardware to pioneer in the hassle-free self-serviced electronics recycling industry.
In addition to consumer products, we also re-commercialize recyclables, including plastic bottles and containers, paper products and clothes, etc. We source directly from individuals by placing self-serviced recycling machines in local communities. Via intra-city transportation and long-haul logistics, we collect the recyclables and ship them to city-level operation centers for refined sorting. Our business model facilitates the recycle, reproduce and reuse, thus reducing waste while creating long-lasting environmental and social values.
